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REGISTERED NUMBER: 11190754 (England and Wales)




















Financial Statements

for the Year Ended 28 February 2023

for

HORNBILL PROPERTIES LTD

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HORNBILL PROPERTIES LTD

Company Information
for the Year Ended 28 February 2023







DIRECTOR: D A J Manigart





REGISTERED OFFICE: 143 Station Road
Hampton
Middlesex
TW12 2AL





REGISTERED NUMBER: 11190754 (England and Wales)





ACCOUNTANTS: Alvis & Company (Accountants) Limited
143 Station Road
Hampton
Middlesex
TW12 2AL

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 5,607
Tangible assets 5 1,154 2,237
Investment property 6 545,681 545,681
546,835 553,525

CURRENT ASSETS
Debtors 7 2,953 2,290
Cash at bank 11,665 6,271
14,618 8,561
CREDITORS
Amounts falling due within one year 8 (453,202 ) (453,641 )
NET CURRENT LIABILITIES (438,584 ) (445,080 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,251

108,445

CREDITORS
Amounts falling due after more than one
year

9

(141,316

)

(140,834

)
NET LIABILITIES (33,065 ) (32,389 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (33,165 ) (32,489 )
SHAREHOLDERS' FUNDS (33,065 ) (32,389 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 February 2024 and were signed by:





D A J Manigart - Director


HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Hornbill Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 5 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 28,027
AMORTISATION
At 1 March 2022 22,420
Charge for year 5,607
At 28 February 2023 28,027
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 5,607

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 4,809 601 5,410
DEPRECIATION
At 1 March 2022 2,693 480 3,173
Charge for year 962 121 1,083
At 28 February 2023 3,655 601 4,256
NET BOOK VALUE
At 28 February 2023 1,154 - 1,154
At 28 February 2022 2,116 121 2,237

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 545,681
NET BOOK VALUE
At 28 February 2023 545,681
At 28 February 2022 545,681

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 679 142
Other debtors 2,274 2,148
2,953 2,290

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 1,781 1,334
Other creditors 451,421 452,307
453,202 453,641

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 141,316 140,834

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Hampshire Trust Bank 141,316 140,384

The mortgage provided by Hampshire Bank Trust is secured against all freehold and leasehold properties and fixtures thereon by way of a fixed and floating charge.

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £1 100 100

12. GOING CONCERN

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.